Chevron Corporation (NYSE: CVX) has announced it will lay off nearly 800 employees in Midland County, Texas, according to a notice filed with the Texas Workforce Commission. The layoffs, scheduled to take effect on July 15, 2025, are part of a broader plan to reduce the company’s global workforce by up to 20% by the end of 2026.
Chevron Layoffs – May 2025 Update
- Company: Chevron (NYSE: CVX)
- Total Layoffs in Texas: ~800 employees
- Location: Midland County, Texas – core to Chevron’s Permian Basin operations
- Effective Date: July 15, 2025
- Context:
- Part of Chevron’s plan to reduce up to 20% of its global workforce by end of 2026.
- Follows a prior notice of 600 layoffs in California, effective June 1, 2025.
Strategic Pressures
- Chevron is cutting costs and streamlining operations globally.
- Faces growing headwinds:
- Loss of operating license in Venezuela
- $53 billion Hess acquisition stalled due to ongoing arbitration over Guyana asset rights
The decision hits close to home in the Permian Basin—America’s most productive oilfield—where Chevron maintains substantial operations. The cuts follow a similar move earlier this year, when Chevron disclosed plans to eliminate at least 600 positions in California, effective June 1.
This workforce reduction comes amid mounting pressure on the oil major. In recent months, Chevron lost its license to operate in Venezuela and now faces uncertainty surrounding its $53 billion acquisition of Hess Corporation, which is currently stalled in arbitration due to a dispute over Hess’s stake in Guyana’s Stabroek Block.
Chevron says the restructuring aims to simplify its business and cut costs as it navigates evolving regulatory, geopolitical, and market challenges.
Stay tuned for further updates on Chevron’s strategy and its implications for U.S. shale operations.
